Search
 

AMB Forms Partnership with Pension Fund

SAN FRANCISCO-Locally based AMB Property Corp. enters into a partnership with the City and County of San Francisco Employees' Retirement System that will acquire, develop and redevelop distribution facilities nationwide.

By Becky Bergman | Updated on February 15, 2001

SAN FRANCISCO-The City and County of San Francisco Employees’ Retirement System is joint venturing with locally based AMB Property Corporation that will acquire, develop and redevelop distribution facilities nationwide. The pension fund has committed $50 million of equity to the venture.

When combined with AMB’s equity investment of $50 million and debt financings of up to $150 million, the committed capitalization of the partnership will total approximately $250 million. AMB’s equity was funded through a contribution of industrial properties, including one facility currently under development.

The venture will invest in High Throughput Distribution™ facilities serving customers that are expediting goods through the supply chain, according to a prepared statement released by AMB this week. As a general partner, AMB will receive distributions for acquisitions, asset management and developments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.